Solar shakeout: foreign and domestic buyer interest shown in Q-Cells

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The provisional liquidator of Q-Cells, Henning Shor from insolvency firm HWW Wienberg Wilhelm, said that there has already been both foreign and domestic interest shown in acquiring the bankrupt PV manufacturer. With the aim of selling the majority of Q-Cells' operations as going concerns, the liquidator said in a statement that it had appointed the Frankfurt office of M & A advisory firm Deloitte to handle the search for and selection of potential buyers.

According to the insolvency firm, interested parties were described as both financial and strategic investors.

"Our goal is to save as large parts of Q-Cells and jobs," said Henning Shor from insolvency firm, HWW Wienberg Wilhelm. "The coming weeks will show how large the investors' interest [is]."

Demand for Q-Cells products also remains strong, according to the insolvency firm, which noted that production of both crystalline solar cells and modules had resumed following the announcement of the insolvency in early April.

Production of both mono- and multicrystalline cells were said to have returned to half the levels before the bankruptcy was announced. Furthermore, the company is said to be considering using employees from its Solibro subsidiary to fill in and support production operations due to staffing shortfalls.

In relation to module production, which is being primarily undertaken in Malaysia but also in Germany, the administrator noted that three shifts were being operated and that a return to a full four-shift, seven-day week was being planned.

The administrator has also sanctioned certain unspecified measures to continue Q-Cells' technology roadmap that was intended to improve the products' conversion efficiencies.

Despite the insolvency proceedings, Q-Cells is continuing to sell to market.

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